Fuzzy logic in currency market
Both the EUR/USD and GBP/USD definitely had more desire for the the run up than I expected yesterday. I did think the GBP had more potential to the upside but it seems there was a much bigger desire to fill the gap on the EUR/USD than I anticipated. Which in turn drug the GBP/USD with it. The gap hasnt quite filled as I type this but an 0ver 100 pip move was a good attempt. I did short some clear manipulation moves on both pairs yesterday and took the 20 pip hit on both so any of you who did the same dont feel bad. Hindsite being 20/20 the reversal and odds for the gap closing were the better trade. We cant win them all.
The way I am looking at the EUR/USD now is the reversal has started but being the 1st push from the lows (3 intraday pushes as well) does still have potential to form the 3rd long term push chop in price here so I will be looking to short from the highs (of which I would be most happy with considering fundies) or go long at the lows from a stop run there. I do still feel there could be some optimism creep into the market considering the possibility of a vain attempt by Greek officials to work together plus I do believe the new French president Hollande will be saying how happy he is with working together with Merkel on the fiscal pact. From what I read the news was a bit overblown with what he wanted to change in the fiscal pact so that has potential to simmer down from my perspective. Having said that it really doesnt change the fundamental picture in Europe and my longer term bias is down.
Source: Day Trading Forex Live
Chaos Theory in the Financial Markets
You might also like:
Think MCSD?2002-07-11 10:53:14 by Labrador
Thanks for the link. I read this and I'll share that I'm at a loss to know where to start... I mean I could flame or wise-crack, but fuck, that wouldn't help, would it.
I wouldn't hire you with this resume. So, the first thing I have to say is make this far more professional. The 'what can I say' and 'music and stock trading' stints... too much information (tmi).
Specific advice on that front - shorten this. There are alot of things in that resume that are totally irrelevant today - the C programs you wrote 10 years back, the ancient and obsolete technologies (writing TCP/IP stacks, etc). Not that they're gone, but you don't write those bits any more.
Include the recent stuff - and put a more on request line.
Now to the hard part. The unfortunate selection of...
Forex Technical Analysis - 08.06.12 — Forex Pros
By Stoyan Mihaylov | Forex | Jun 08, 2012 09:19AM GMT | Add a Comment After yesterday's precise test of 1.2630 resistance area, today's outlook is bearish for a slide through 1.2410, en route to 1.2290. Crucial resistance on the upside is 1.2545, …